Mr. Paul Anderson reports

ABACUS ANNOUNCES FINANCING

Abacus Mining & Exploration Corp. has arranged a non-brokered private placement for proceeds of up to $400,000 through the issuance of up to 20 million units at a price of two cents per unit.

Each unit will consist of one common share of the company and one-half non-transferable common share purchase warrant, with each warrant exercisable to purchase one common share of the company at a price of five cents for a period of three years from the date of closing of the offering.

Proceeds from the offering will be applied toward exploration and general working capital, and the payment of $80,000 (U.S.) in respect of a property payment to the owners of the Nev-Lorraine property.

The company recently acquired the Willow copper-molybdenum property, and it holds a lease on the adjacent Nev-Lorraine copper-molybdenum property near Yerington, Nev., as well as a 20-per-cent interest carried to production in the advanced Ajax copper-gold development project in British Columbia. Investors are referred to the company's website for the latest news and project descriptions.

The offering is being conducted pursuant to available prospectus exemptions, including the exemption to existing shareholders of Abacus who are permitted to subscribe pursuant to British Columbia Instrument 45-534 -- Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders. If total subscriptions received for the offering exceed the maximum offering amount of $500,000, units will be allocated pro rata among all subscribers qualifying under all available exemptions, unless the company otherwise increases the maximum offering amount.

The financing is subject to TSX Venture Exchange approval. In connection with the offering, certain finders may receive a cash fee and/or non-transferable finders' warrants. All securities issued will be subject to a four-month hold period under Canadian securities law.

About Abacus Mining & Exploration Corp.

Abacus is a mineral exploration and mine development company currently focused on copper and gold in British Columbia and Nevada. The company's main asset is a 20-per-cent ownership interest, together with KGHM Polska Miedz SA (80 per cent), in the proposed copper-gold Ajax mine, located southwestern of Kamloops, B.C., which has undergone a joint provincial and federal environmental assessment process. On Dec. 14, 2017, a decision was made by the British Columbia Minister of Environment and Climate Change Strategy and the Minister of Energy, Mines and Petroleum Resources to decline to issue an environmental assessment certificate for the project. KGHM have recently reopened an office in Kamloops, B.C., to facilitate first nation, community and governmental engagement in order to advance the project toward a potential resubmission of the environmental application.

Abacus also owns a 100-per-cent interest in the Willow copper-gold property, located near Yerington, Nev., and it controls the contiguous Nev-Lorraine claims, subject to a 10-year lease agreement.

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